Newest Marcus By Goldman Sachs Promotions: Best Offers, Coupons and Bonuses May 2020

Marcus by Goldman Sachs is the savings and personal loan banking division of investment firm Goldman Sachs. It provides online-only savings accounts with no fees or minimum deposit requirements and offers some of the highest interest rates around on savings accounts and certificates of deposit. Like most banks, Marcus by Goldman Sachs also runs special promotions to lure new customers.

In a recent GOBankingRates survey, more than 65% of the respondents revealed that they’ve never checked out promotions available at other banks. This is effectively leaving money on the table. They’re not only passing on cash bonuses available in many promotions, but they’re also missing a chance to get higher interest rates simply by switching banks. There’s no harm in exploring promotions available at other banks — and you might even find the right deal to convince you it’s time to switch.

This guide to current Marcus by Goldman Sachs promotions will cover the following:

Marcus By Goldman Sachs Promotions at a Glance

Savings and CD accounts at Marcus by Goldman Sachs come with higher annual percentage yields than you’d earn at most traditional brick-and-mortar banks. These rates are available to all account holders, and no coupon codes are required to unlock them. Here’s a quick rundown of the latest promotions:

Current Marcus By Goldman Sachs Promotions

You won’t find any Marcus by Goldman Sachs cash bonuses this month, but opportunities still exist to maximize your savings. The current offers include promotional rates for high-yield savings accounts and CDs.

This account features a high interest rate compared with most banks, giving you the chance to earn more on your deposits without having to worry about account balance minimums or monthly fees. The only fees that might be associated with this account are those charged by other banks when you transfer funds to your account. Here are more details:

Value: 1.30% APY

Minimum deposit to qualify: None

Expiration date: None

How to get it: Open a high-yield online savings account and transfer funds from another bank into your new savings account.

When you’ll get it: Accounts start earning interest on the same business day that the bank receives a deposit.

Terms and conditions: You must link an outside bank account to send and receive money. The savings account might be closed if you don’t fund it within 60 days of opening.

Marcus by Goldman Sachs 7-Month No-Penalty CD Promotion: 1.30% APY

Certificates of deposit are a good way to earn high interest on your savings — as long as you don’t need the money immediately. The one drawback of a traditional CD is that your money can’t be touched for the length of the agreement without incurring a penalty. That’s not a problem with no-penalty CDs because you have the flexibility to access your money sooner. Marcus’ No-Penalty CD lets you withdraw funds as soon as seven days after you fund the account. The details for this promotion are below:

Value: 1.30% APY

Minimum deposit to qualify: $500

Expiration date: None

How to get it: Open a CD online with a minimum deposit of $500.

When you’ll get it: Once your account is funded

Terms and conditions: Partial withdrawals are not permitted with this account. Full withdrawals are allowed starting seven days after you fund the account.

Marcus by Goldman Sachs 1-Year High-Yield CD Promotion: 1.35% APR

If you don’t mind setting your savings aside for one year without accessing the funds, you can earn Marcus’ highest interest rate available with a one-year CD. You might even earn more than you expected. When you fund your CD within 10 days of opening the account and the APY rises in that time, you’ll lock in the higher interest rate for the full one-year term. Here’s how the high-yield CD promotion works:

Value: 1.35% APY

Minimum deposit to qualify: $500

Expiration date: None

How to get it: Open a CD online with a minimum deposit of $500.

When you’ll get it: Once your account is funded

Terms and conditions: Your interest rate is locked in for the one-year term, though it might vary from the advertised rate if rates change before your CD is fully funded.

How To Open a Marcus By Goldman Sachs Account

To open a bank account with Marcus by Goldman Sachs, you’ll need to complete an online application. The process is simple. All you need to do is create an account and provide the following information:

Name

Street address

Social Security number

Employment status

Email address and password

Funds to open the savings account by making an electronic funds transfer using your current bank account number and routing number

Should You Check Out Marcus by Goldman Sachs Promotions?

If you’re saving money for a big purchase or building your emergency fund, you might want to check out the latest offers from Marcus by Goldman Sachs. The combination of high interest rates and no fees makes it possible to maximize your savings compared to traditional savings accounts, letting you grow your money faster.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of May 14, 2020.

This content is not provided by Marcus by Goldman Sachs. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Marcus by Goldman Sachs.

This article has been updated with additional reporting since its original publication.

Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.